Cheapest Cryptocurrency | Cryptos with the Highest Growth Potential

8 min read . Updated: 22 Jul 2022, 06:07 PM IST HT Brand Studio

Find out the cheapest cryptocurrencies with the highest growth potential this year. 1. My Freedom Coin (MFC) 2. Polygon (MATIC) 3. Ethereum (ETH) 4. Chainlink (LINK) 5. Cardano (ADA)

5 Cheapest Cryptocurrencies: Reviewed

My Freedom Coin (MFC)

As the world’s first crash-proof cryptocurrency, MFC comes with Zero Liquidation Risk.

A project’s growth potential depends on its vision, value propositions, and action plans. After analyzing dozens of trending projects, we found that My Freedom Coin (MFC) is one of the most undervalued cryptocurrencies in the market right now. As the world’s first crash-proof cryptocurrency, MFC comes with Zero Liquidation Risk. It introduces a concept called ‘The Floor’ to nurture the sustainable growth of the Coin. The project’s relevance further comes to light, factoring in the disastrous volatility of the crypto market.

So, what exactly is The Floor?

The Floor denotes the absolute lowest price MFC can be at. It only increases over time, thanks to the advanced revenue and reward mechanisms on the platform. It collects the funds generated from the sales of MFC in the BUSD Treasury, a BEP-20 smart contract. Each new MFC is issued to the market at double its Floor. This way, the project is always in a position to buy back all MFC in circulation.

My Freedom Coin is the native currency of the decentralized platform of the same name. It is a Wallet, Bank, and Exchange. You can take loans at Floor Value from the platform by paying a 0.98% monthly interest rate. The collateral paid in MFC will be released back to you upon completing the repayment.

Example:

Let's say the Floor price is $1, and you have 1000 MFC tokens. You can take out a $1000 loan from the BUSD Treasury at 0.98% interest per month. When repaying your loan, you will always receive the 1000 MFC tokens back that you used as collateral, minus the interest accrued during the term. Let’s say the Floor price has increased to $1.50 six months down the line. When you repay your interest due and receive your collateral back, it is now worth $1500 - meaning you’ve earned an additional $500, minus the interest accrued during the term.

Let’s take a look at the key revenue and reward mechanisms on the platform that are designed to boost the Floor. All MFC collected such as license fees, Exchange fees, the 0.5% fee charged on MFC peer-to-peer transactions, and loan interest are taken out of circulation to increase the Floor Price, keeping in line with the increasing activities on the platform.

MFC is an invite-only platform. You need to get an invitation code from an existing member to sign up on the platform. The app is free to use unless you want to buy and sell coins on the Exchange. You need a license worth $50 to activate the Exchange for a month. The Trading License comes at $0 for the first 10,000 holders. The amount grows by $5 for every new 10,000 holders, until reaching $50. The fee is completely reinvested into the project as part of boosting the coin value. Out of this, 90% is added to the Community Program to fund the multi-level referral bonuses. It rewards you every time a member who joined with your invitation code activates the license. The remaining 10% creates a monthly demand for MFC through BuyBack.

Key highlights of My Freedom Coin

Zero liquidation risk
Totally unique economics
Collateralized loans for BUSD
Clean & user-friendly interface
Free to download on iOS and Android

Our readers can now sign up on My Freedom Coin using the code ABXNMMXPHN or by scanning the QR Code below.

Visit My Freedom Coin

Ethereum (ETH)

Ethereum occupies the second place on our list of the cheapest cryptocurrencies to invest in. This comes as no surprise as it is worth a mere $1,107.03 at the time of writing this article. That is, 77.37% down from its all-time-high of $4,891.70. The crypto winter has clearly taken a toll on the world’s second-largest cryptocurrency. However, the project’s ongoing developments and shift to Ethereum 2 give confidence to investors. People who believe in the project are stocking the coin, anticipating a dramatic price rise later this year.

ETH (Ether) acts as the fuel of the Ethereum network, a decentralized computing platform that facilitates data and value transactions. You can use the blockchain to build new smart contracts and decentralized applications, issue new tokens, and use them. All transactions on Ethereum are charged with a fee called Gas. It is paid in Ether, which explains the coin’s value and relevance in the crypto market.

Currently, Ethereum is home to an array of dApps from financial tools to games, databases, and NFTs. While the network’s dependence on the proof-of-work consensus mechanism is a cause for concern, the Merge gives us hope. It will shift the network to a proof-of-stake consensus mechanism, bringing down the transaction time and delays. At this pace, Ethereum will remain the top cryptocurrency with smart contract capabilities.

Polygon (MATIC)

MATIC is integral to the proof-of-stake consensus mechanism on Polygon.

MATIC, the native token of Ethereum scaling solution Polygon network, secures the third position on this list of cryptocurrencies with the highest growth potential. It provides faster and cheaper transactions on Ethereum. You need to hold MATIC tokens to facilitate payments on the network. Besides, MATIC is integral to the proof-of-stake consensus mechanism on Polygon. The coin is currently down 83.15% from its highest price that was recorded back in late 2021.

Polygon’s unwavering popularity can be explained by its role during the last few years in improving the functionality of Ethereum. It captured mainstream attention by enabling expeditious and inexpensive trades for users. In the last two years, the network has seen an influx of innovative projects, mostly in the DeFi and NFT space. If the ecosystem manages to keep up the pace in terms of expansion, the cheap cryptocurrency will prove to be a wise investment this year.

Chainlink (LINK)

Chainlink is an evergreen blockchain project that holds massive opportunities for the industry as a whole. It is a network of decentralized oracles that provide tamper-proof inputs, outputs, and computations to support advanced smart contracts on any blockchain. With the rise of DeFi projects, LINK is expected to exponentially rise in value in the coming months and years. It is one of the best cryptocurrencies in the market.

At the time of writing, ChainLink has a total value of $37,338,097,875.45. While LINK is valued at $6.26 now, a detailed analysis of the project will reveal that it is way below its potential. If the project keeps on building and expanding its ecosystem, it will cross its all-time high of $52.88 sometime later this year. This is because Chainlink currently plays a key role in streaming reliable data for blockchain applications.

Cardano (ADA)

We wrap up this list of cryptocurrencies with Cardano, one of the cheapest cryptocurrencies to buy in the present market condition. If you have been following the crypto market for a while now, you should know that Cardano is highly undervalued right now. ADA, worth $3.10 in November 2021, has now plummeted to as low as $0.4656. That is 84.98% down from its all-time high. The active developments going on in the Cardano ecosystem can potentially trigger a price rise sooner or later.

Cardano is a highly established blockchain project founded by Charles Hoskinson in 2015. He has also played a key role in developing the Ethereum network during its early phase. Since its release in 2017, Cardano has undergone many changes that have helped it give close competition to Ethereum in terms of performance and popularity. If Ethereum was the world’s first smart contract blockchain, Cardano upgraded the vision with a better consensus mechanism, speed, scalability, and efficiency. With the Alonzo hard fork that was successfully implemented in 2021, Cardano is ready to go full swing. We can expect to see enterprise-level, mission-critical, decentralized smart contract applications on Cardano soon.

Wrapping Up

These are the top five projects that hold massive opportunities for long-term investors this year. While projects like Ethereum and Cardano are struggling in the present market conditions, they are also constantly building. They will bounce back soon, rewarding investors who bought the dip lucratively. On the other hand, My Freedom Coin is a relatively new project that has been garnering a lot of attention lately. Its value-appreciation mechanism designed to weather volatility is the first of its kind in the market. As the world’s first crash-proof cryptocurrency, MFC proves that crypto can be a safe investment.

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